The Citizens will take on the Gunners at Wembley on Sunday as the pair do battle in the FA Cup semi-final.
Jesus broke a bone in his foot in February and he was expected to miss the rest of the Premier League campaign. However, he has impressed the club's medical staff and recently returned to training.
He looks set to feature on the bench but defender John Stones has refused to recover from a muscle injury. The problem saw him miss last week's tie with Southampton and the former Everton man is also a doubt for Thursday's clash with Manchester United.
Apart from Jesus and Stones, Guardiola should have a fully-fit squad to choose from but he still may make a late call on his goalkeeper with both Claudio Bravo and Willy Caballero fighting it out for the starting spot.